Akebono Brake Industry : Announcement Regarding Receipt of Dividend from Consolidated Subsidiaries

(NOTE) This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the Japanese original shall prevail.

Date: May 8, 2024

Company Name: Akebono Brake Industry Co., Ltd.

Representative: Yasuhiro Miyaji, President & CEO

(Securities Code: 7238; TSE Prime Market)

Announcement Regarding Receipt of Dividend from Consolidated Subsidiaries

The Akebono Group (hereinafter "Akebono") hereby announces that Akebono will receive a dividend of surplus from two consolidated subsidiaries, as follows.

1. Details of Dividend

Name of consolidated	Dividend amount	Resolution date	Scheduled date of
subsidiary	receipt of dividend
Akebono Brake (Thailand)	336 million Thai baht	May 8, 2024	May 21, 2024
Co., Ltd.	(1.4 billion yen)
Akebono Cooperation	25 million Thai baht	May 8, 2024	May 21, 2024
(Thailand) Co., Ltd.	(0.1 billion yen)
Total	1.5 billion yen

Note: The dividend amount is calculated at the rate of 1 Thai baht to 4.2 yen.

2. Amount of Impact on Akebono's Financial Statements

As a result of this matter, Akebono will record 1.5 billion yen of dividend income from associated companies as non-operating income in the non-consolidated financial statements for the three months ending June 30, 2024.

As this is a dividend from a consolidated subsidiary, there will be no impact on our consolidated financial results.